欢迎来到天天文库
浏览记录
ID:36463398
大小:2.44 MB
页数:68页
时间:2019-05-10
《核心能力及交易特征对并购绩效影响实证研究》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、西南交通大学硕士学位论文核心能力及交易特征对并购绩效影响实证研究姓名:李建惠申请学位级别:硕士专业:会计学指导教师:范莉莉20080501西南交通大学硕士研究生学位论文第lI页AbstractAsaeffectivemeansforenterprisestoimprovecompetenceandrealiseleap·forwarddevelopment,M&Abecomesthebestchoicetoexbandquickly.However,materialsshowthatthesuccessionrat
2、eofcorporateM&Akeepsverylowwhiletheyincreasesteadilyinnumber.Thepropositionofcorecompetencetheoryexplainedthephynomynonabove。ItmaintainsthatthemutualshiftofcorecompetencebetweentwocompaniesisthekeyfactorwhichdecidesthesuccessionofcorporateM&A.SodoM&Aactivities
3、reallysupportthetheoryofcorecompetence?AnddotheM&Aperformanceofthelistedcompaniesreallybeinfluencedbycorecompetence?AndwhatotherfactorsinfluenceM&Aperformanceexceptofcorecompetence?ThispaperwilltakeempiricalreserchtostudytherelativefactorsaboutM&Aperformance.T
4、hepapercomprisesfourchapters.Atfirstthebackgroundandthoughtsoftheresearcharedescribedintheintroductionwhichalsosummarizestheforeignanddomesticempiricalstudiesofrelativeissues;Secondly,thepaperintroducesthetheoryofCoreCompetenceandcorporateM&A,thentherelationsh
5、ipbetweencompany’SCorecompetenceandefficiencyisanalyzedbasedontherelativetheorywhichprovidesatheoreticalbasisforthe‘latterempiricalresearch,thenthetWOmethodsofperformancedescriptionareintroducedinthelastofthischapter.Inchapter3,asthecoreofthepaper,describesthe
6、designofempiricalresearchwhichcomprisesthehypothysis,variablesandthelinearregression.Thelastchapter,principalcomponentanalysisisusedtodescribetheperformance,thenistheanalysisofthetrendoftheperformanceandtheresultofmultipie—variableregression.Theresultoftherese
7、archsuggestthatmostoftheacquiringcompanies西南交通大学硕士研究生学位论文第1II页haveimprovedtheirefficienciesafterM&A,butthepropotionofpositivedropedbadlyaftertwoyearslatenTheproportionofintangibleassetsplayasignificentpositiveinfluencetOM&Aperformance,whichverifedthehypothysis
8、relatetothecorecompetencepromotedinthedesignofreserch.Industrialrelatedness,relativesizeandtradable—sharepropotionallplaysignificentinfluncetoM&Aperformance.KeyWords.M&Aperformance
此文档下载收益归作者所有